Changing homes

Changing homes

How to get from home A to B

Are you homeowner who is planning to change homes? Here are all the tips you’ll need to sell your home and buy a new one.

Prepare to list your home

There are a few things to consider before you can put up the "Sold" sign on your front lawn.

Sell your own home or hire a broker

How well do you know the market? Do you have the time and motivation? Will you save by selling your own home? Answering these questions will help you decide whether you should hire a broker. If you decide to sell your own home, there are specialized agencies and sites that can help you through the process.

Know your rights and obligations

Find out what the obligations are of all the parties involved: compliance of the property, seller obligations, form and documents required for the offer to purchase. Your lawyer is also a key source of information.

Helpful sites

Know the selling costs

A few things to consider (if applicable)

  • Realtor commission
  • Chartered appraiser fees
  • Mortgage prepayment penalty
  • Mortgage discharge fees
  • Certificate of location

Additional things to consider

Steps to sell your home

Follow these steps to ensure a smooth transition between the purchase and sale of your home.

Consider the implications of prepaying your current mortgage and your future mortgage needs. You may need bridge financing to cover the period between buying your new home and selling you current one, or you may want to keep the conditions of your mortgage.

Find out how to declare your sale on your income tax return.

A realtor can help you set the price for your home by looking at your neighbourhood, the features of your home and comparables. If you intend to sell it on your own, contact a chartered appraiser, an objective professional who can set a fair price.

Maximize the value of your home

Follow a few home staging guidelines: depersonalize the décor and spruce up both the inside and outside. It may give you justification for increasing your asking price.

Fill out the Declarations by the seller of the immovable form or an equivalent form. It's where you declare the condition of your home, which minimizes the risk of legal action against you by future owners. The form also helps potential homebuyers make informed decisions.

What it includes

  • The offered price
  • Inclusions and exclusions
  • Expiry date of the offer

Conditions

  • A home inspection by a professional home or building inspector
  • Possession date
  • Temporary occupancy
  • Mortgage approval

If you're not comfortable with some conditions in the Offer to Purchase, you can sign a refusal and make a counter-offer which may or may not include a different sale price.

To protect your property and goods.

Once the Offer to Purchase or counter-offer is accepted and all conditions are met, you can make the transaction official by sealing the deal at the lawyer's office.

So they'll be aware of the terms of the sale.

Other tips

Tools

Get preauthorized

What is the preauthorization certificate for?

  • Displays the maximum price of the house you can afford to buy
  • Shows you are a serious buyer and your purchasing capacity
  • Simplifies communication with the seller or real estate broker

3-step preauthorization

  1. Determine your financing needs with one of our advisors.
  2. Get a prompt answer.
  3. Get the loan terms and a preauthorization certificate upon approval.

View a preauthorization certificate sample (PDF, 166 KB) - Cet hyperlien s'ouvrira dans une nouvelle fenêtre..

Make an appointment

Montreal area:
514-745-9499

Elsewhere in Canada and the U.S.:
1-844-626-2476

Contact an advisor

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Call us

Montreal area:
514-745-9499

Elsewhere in Canada and the U.S.:
1-844-626-2476

Through a mortgage representative

Ready to buy? An advisor can come meet with you any day of the week.

Find a mortgage representative